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Morrisons warehouse workers strike over pension contribution change

Employee Benefits

About 1,000 Unite union members working at two Morrisons warehouses have undertaken strike action for three days over a cut in company contributions to their pensions. Morrisons said the loss in pension contributions per worker would be more than offset by the offered pay rise.

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The Impact of Indexing: 13 Real World Examples

Money Talk

For example, the Consumer Price Index (CPI) measures changes paid by consumers for frequently-purchased retail goods and services. Pension COLAs - Pension benefits for some retirees are also indexed for inflation. An example is pensions for federal government workers and military retirees and disabled veterans.

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Make the Most of Free Money

Money Talk

Retail Rewards - Loyalty programs are common among retailers and restaurants and shoppers can earn points that convert to cash-off or free meals. Unclaimed Money - This is money held by state governments from a variety of sources including bank accounts, utility deposits, pension benefits, and insurance policies.

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Spar UK completes £11 million pensions buy-in

Employee Benefits

Retailer Spar UK has completed an £11 million buy-in transaction for its UK pension fund. Before approaching the market, the trustees worked to equalise guaranteed minimum pensions within the fund. This is especially notable given the unprecedented demand in the pension risk transfer market.

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Boots completes £4.8 billion pension scheme buy-in

Employee Benefits

Credit: Martin Good / Shutterstock.com Retailer Boots has completed a £4.8 billion pensions buy-in. As a result, the scheme will not be reliant on Boots to pay benefits to members and pensions will be protected for decades to come.” billion pension scheme buy-in appeared first on Employee Benefits.

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Marks and Spencer invests £57m in retail pay rise

Employee Benefits

Credit: patat / Shutterstock.com Retailer Marks and Spencer will give its retail employees a pay rise as of 1 April as part of a £57 million investment. The change means all retail employees will be paid more than the national living wage and either in line with or more than the real living wage.

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B and Q and Screwfix give retail staff pay rise

Employee Benefits

Home improvement retailers B and Q and Screwfix, both owned by Kingfisher, have announced that shop floor workers will receive a pay rise to £10.60 Kingfisher also provides share schemes, discounts across various national retailers and access to financial wellbeing app Wagestream. from 1 April, an 8.2% increase, respectively.

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